25, August 2016

XAU/USD (a 4-hour chart)

General review

As we expected during this week gold has begun to breakthrough from the medium-term channel 1.1336-1.1358 with downward direction

Current situation

After breaking through the resistance zone of 1.1330-1.1336 market is dropping lower.

Trading recommendations

The next support zone is located near 1.1320-1.1325. We expect that the market is moving towards these levels. Strategic support is around 1.1310